Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Everett Harris & Co. CA

Everett Harris & Co. CA grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,354 shares of the medical research company’s stock after purchasing an additional 1,840 shares during the quarter. Everett Harris & Co. CA’s holdings in Laboratory Co. of America were worth $7,419,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SouthState Corp bought a new position in shares of Laboratory Co. of America in the third quarter worth $28,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America in the third quarter worth approximately $29,000. Fortitude Family Office LLC boosted its stake in Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares during the period. Finally, Riverview Trust Co lifted its holdings in shares of Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after buying an additional 107 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the sale, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at approximately $21,289,260.27. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $239.42, for a total value of $239,420.00. Following the completion of the transaction, the executive vice president now owns 2,670 shares in the company, valued at approximately $639,251.40. This represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,572 shares of company stock valued at $5,915,209 in the last ninety days. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $249.39 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $235.82 and a 200 day moving average price of $228.25. The firm has a market capitalization of $20.86 billion, a PE ratio of 48.24, a price-to-earnings-growth ratio of 1.83 and a beta of 1.06. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is 55.71%.

Analyst Upgrades and Downgrades

LH has been the subject of several research reports. Barclays raised their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. UBS Group dropped their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday. Piper Sandler raised their price objective on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $275.00 target price (up previously from $265.00) on shares of Laboratory Co. of America in a report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $261.77.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.